THE CO-OPERATIVE ASSOCIATION.

Waikato Times, Volume XXII, Issue 1873, 8 July 1884, Page 2

THE CO-OPERATIVE ASSOCIATION.

TO THE EDITOR. Sik, — Now that the directors have yielded to the clamouring of the few, ami agi eed to open stores in various places, I suppose we should all be satisfied, but I must confess that I am not. We have not a large capital, and it will not all bo available for some time to come ; yet the annual expenditure for stores alone, at Auckland, Hmnlton, Cambridge, and Te Auamutu, will be a heavy amount; this added to liist cost of stock, &c, (which must be very groat), will make a clean sweep of all, and much more than our balance afc the bank, which a fortnight ago was about £330. Of coarse, many will say that the profits far exceed the expenditure, but who can guarantee that ; we all know that stores in various parts of the Waikato are not paying at the present time. We should be content with the Auckland store at lirst, and then as the trade extended open stores in vaiious paits, but not to takeover any business ; let the association make its own, then slowly but surely it would grow iuto a giand concern. I thought that our directors for Te Awamutu and Ngaioto were elected to look after the interest of the shareholders, but by the report of Tuesday's meeting, it seems to me that they have given up the idea of the economical and like the rest gone in for making a show. The Ngaroto director especially, should have estimated the cost as against the profit of these stores before voting with the majority, and I would like him to give his reason for so sudden a departure from the economical ideas which he has always advocated before. — I am, &c. Curious to Know.

TO THE KDITOR. Sir,— lt is very evident that Mr "Fairplay" is one of those men who begin to build without first sitting down and counting the cost, or like the " Tinker," begins to make his " kettle " before he knosvs the " diameter's length." I would like to ask him one question, viz., How can a company with so limited a capital as the N.N.Z.F.C.A. have at their disposal stock, and mantain a central stoi eat Auckland and branches at all the townships within the radius of the company. He accuses me of reading the papers without my specs, but I think " Fairplay" not only leads with an ordinary pair ot specs, but he has got a very large pair of magnifying glasses, besides a very magnifying mind, I maintain that likelihoods and desirabilities are not sufficient guarantees to wariant the directors of any company or association to plunge its shareholders into debt, such as the directors of the N.N.Z.P.C. A. will do if thoy persist in opening stores at the various centres of population with such a limited capital.— l am, &c. Shareholder.